{Published 23 fev 2023 / Last update 17.04.24}
In recent years,
There has been a growing interest in the concept of tokenization, which involves turning physical or digital assets into digital tokens that can be traded or exchanged on a blockchain system. While most of the focus has been on financial assets, such as stocks or currencies, I believe that tokenization could also be applied to non-financial assets, such as learning.
Imagine a world
where students are rewarded for their learning achievements with digital tokens that can be used to finance non-formal education outside of the traditional school system. This concept, known as “tokenizing learning”, has the potential to revolutionize the way we think about education and provide an alternative way to finance non-formal education.
Non-formal education refers to any learning that takes place outside of the traditional school system, such as after-school programs, online courses, or workshops. These educational opportunities are often underfunded and can be difficult to access for students who may not have the resources or support they need to pursue their interests. “Tokenizing learning” could provide a new way to finance non-formal education and create opportunities for students to pursue their passions and interests outside of the classroom.
So how would “tokenizing learning” work in practice?
Students who achieve certain learning milestones or complete educational programs could earn digital tokens that can be used to access non-formal education opportunities. These tokens could be traded or exchanged on a blockchain system, allowing students to access a wide range of educational opportunities outside of the traditional school system.
Decentralizing the “tokenization of learning” is possible through a system like a DAO (Decentralized Autonomous Organization). This system lets multiple stakeholders, including foundations, sponsors, teachers, schools, associations, and students participate and have a say in the governance of the system. This approach ensures the system is transparent and democratic, and all participants benefit from its operation.
For example, a foundation interested in supporting non-formal education could join the DAO and buy a certain number of tokens, such as 10,000 euros. This money is then added to a common pool. This process of creating tokens is called mining, the foundation's contribution is used as collateral for mining new tokens. Let’s say 1€ will allow the creation of 10 tokens.
Once the tokens are created, they can be issued to students as a reward for achieving certain learning milestones or completing non-formal education programs. Each user can have different privileges, such as students being able to exchange tokens only for community services, such as courses, learning materials or even accommodation fees. And organizations who receive these tokens could burn them in exchange of fiat money to pay for fixed expenses like rent and wages. Burning token is the process to remove them from the system, this ensures that tokens remain valuable and the system remains stable.
But while “tokenizing learning” has the potential to create new opportunities for students and educators, there are also
challenges that need to be addressed
to ensure that the system is designed in a way that promotes educational goals and creates equal opportunities for all students.
Here are some of the key challenges that need to be addressed:
- Designing the system to promote educational goals: “Tokenizing learning” should be designed to promote educational goals and not just create incentives for students to earn digital tokens. The system should reward students for genuine learning achievements that align with educational objectives.
- Ensuring fairness: “Tokenizing learning” should provide equal opportunities for all students, regardless of their background or circumstances.
- Addressing potential negative consequences: “Tokenizing learning” should be designed to avoid unintended consequences, such as creating a situation where students are only motivated by the potential rewards, or do not have a genuine interest in learning. The system should be designed to promote a love of learning and a desire to pursue educational goals.
If these challenges can be addressed, this approach has the potential to create a new way to finance non-formal education and provide opportunities for students to pursue their passions and interests outside of the traditional school system.
By leveraging the power of blockchain and digital tokens, we can create a system that supports educational goals and promotes equal opportunities for all students.
To go further:
- Below are a couple of considerations about a new model for changing education :
- Goals and rewards can be a great way to motivate players to learn, try out features, and play longer - but in certain circumstances, they can actually backfire on you. To find out more, let's jump into the psychology of motivation :
- how a typical video game economy is designed - and how resources flow around the system? :
An Alternative Way to Finance Non-Formal Education